Mcbride, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In McBride, British Columbia, the real estate market is currently experiencing a period of stable growth. The median house price stands at $525,000, with a year-over-year increase of 4.2%. This indicates a healthy uptrend in property values, reflecting sustained demand. Similarly, the median apartment price has seen a rise to $315,000, growing at a slightly more modest year-over-year rate of 2.5%.
The population of McBride has grown to approximately 15,200 residents, reflecting a significant population growth rate of 4.8%. This demographic expansion has been a contributing factor to the increased demand for housing in the area, which in turn supports rising property values.
Investment Opportunities and Potential
The consistent growth in property values alongside demographic expansion presents promising investment opportunities in McBride. The steady rise in median house and apartment prices suggests that investing in residential real estate could yield favorable returns. Moreover, with a population growth rate higher than the national average, demand for rental properties is likely to increase, presenting an opportunity for investors looking into rental income or property development projects.
Given the current trends, properties in prime locations or those that cater to the growing demographic may offer particularly strong investment potential. Investors should consider both long-term capital appreciation and the possibility of generating rental income as part of their investment strategy.
Future Market Outlook
The outlook for McBride’s real estate market remains optimistic based on current trends. If the local economy continues to support job growth and attract new residents, it is likely that both housing demand and property values will continue to rise. The ongoing population increase at a rate of 4.8% is expected to sustain the demand for housing for the foreseeable future.
Careful monitoring of economic indicators such as employment rates, infrastructure developments, and any changes in interest rates will be crucial for accurate future market predictions. Nonetheless, if current conditions persist, McBride’s real estate market appears poised for continued growth.
